Binance Investigated by French Authorities Over Money Laundering

French regulators are taking a closer look at cryptocurrency exchanges, including Binance and Coinhouse, to prevent money laundering. This intensified effort is part of the ongoing process to determine which companies among over 100 in France will receive EU-wide licenses later this year. The French prudential supervision and resolution authority (ACPR) has been conducting inspections on dozens of exchanges since late last year, prompting Binance, a major player in the crypto market, to improve its compliance and risk controls. A representative for Binance acknowledged these actions, stating that they are “standard part” of their supervision process.